Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

My Favorite China's Brands
Industry

China to promote dev. of intelligent vehicles, generating inv't opportunities

February 25, 2020


Abstract : Chinese authorities on Monday unveiled a plan to promote development of the intelligent vehicles, which many brokers expect may generate about 10 trillion yuan of investment, the Xinhua-run Shanghai Securities News reported.

BEIJING, Feb. 25 (Xinhua) -- Chinese authorities on Monday unveiled a plan to promote development of the intelligent vehicles, which many brokers expect may generate about 10 trillion yuan of investment, the Xinhua-run Shanghai Securities News reported.

According to the plan, China aims to basically form the systems of technological innovation, industrial ecology, infrastructure, regulations and standards, product supervision and network security for the intelligent vehicles by 2025.

The development of intelligent vehicles is not only conducive to accelerating the transformation and upgrading of the automobile industry, but also to strengthen the country's strength in manufacturing, network, transportation and other fields, said the plan.

"This is an iconic event, meaning that the Internet of Vehicles (IOV) industry will usher in a major opportunity for rapid development," said Wu Dongsheng, senior vice president of Gaoxin Technology Group Co., Ltd. (300098.SZ).

The plan is not only to guide and promote development of the automobile industry, but also to accelerate development of such industries as electronics, 5G, cloud computing, and big data, according to a person in charge of a car company in an interview with Shanghai Securities News.

TF Securities (601162.SH) estimated that compared to the traditional car, an intelligent vehicle will add hardware purchase amount of at least 3,000 U.S. dollars. It means that the country's more than 20 million new vehicles a year will generate 60 billion U.S. dollars of hardware purchases, implying a huge market.

Qianzhan Industry Research Institute forecast that the driverless cars will see a market of 200 billion to 1.9 trillion U.S. dollars by 2025, and the global driverless car sales will reach 11.8 million units by 2035, of which China will have a share of 24 percent.

It is worth noting that the development of intelligent vehicles is expected to drive a new round of investment opportunities.

The plan proposes that a new generation of vehicle communication wireless networks (5G-V2X) will be gradually applied in some cities and expressways.

Essence Securities estimated that by the end of 2018, the country's highway mileage had been 4.85 million kilometers. If the IOV infrastructure starts from the expressways and gradually covers the national highways, the upgrade cost is expected to reach the level of 10 trillion yuan. (Edited by Hu Pingchao, hupingchao@xinhua.org)

Scan the QR code and push it to your mobile phone

Keyword: 5G intelligent vehicle IOV

Reading:

China's consumer market to remain stable in long-term with new growth points blooming, experts

The Ministry of Public Health researches Andrographis paniculata for COVID-19

Three ministries formulate plans to promote economic development and enhance competitiveness of Thailand

China regulator pushes 5G network construction amid virus outbreak

Qualified pilot commercial banks, insurers approved to trade T-bond futures on CFFEX

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial